/biz/ - Business & Finance

>>50806838

Sgt Major reporting in. Any OGs still around?
2g

>>20687055
>>20687059

thx brehs

July 12, 2020. That's when my LINK stack matures into a long-term capital investment. I foolishly swung my whole stack in June 2019, I actually increased my stack by 10% but I incurred a $50k tax liability on short-term gains in doing so and of course when I bought my stack back on July 11, the capital gains maturation period reset for all my LINKies.

This is just another cautionary tale for you limp-wristed marines out there thinking about swinging. Even if you successfully swing and boost your stack, you'll likely incur short-term gains tax that is taxed like income up to 39%, while resetting the age of your stack back to 0 for future tax purposes (not a good thing). It's not worth it when you can just comfy hold and only have to pay 15-20% tax maximum when you finally cash your stack out as a long-term capital investment.

Now I have to hope LINK doesn't have its next parabolic top before July 12, 2020 or else I won't be able to sell the top without incurring short-term capital gains tax rates AGAIN.

>paying taxes
>ever

Yeah unless I want to live in fear of the IRS kicking my door down for the rest of my life or else move to fucking shithole puerto rico for the rest of life, it's just easier to pay off uncle sam so I can sleep peacefully at night. Anyone who says otherwise is a LARPing faggot with a three-figure stack.

Okay so 'NEVER FUCKING SELLING' memes aside, what are your plans for cashing out? I've developed a multi-tiered, multi-currency approach like this:

>100k LINK stack
>Starting at $5, then at $7.50, $11.25, etc steps (1.5x each time), sell 1/10 of my remaining stack into BTC and ETH
>If LINK price dips 20% from where I last sold, buy back in. Otherwise, sit in BTC and ETH until $50k BTC or $1000 ETH
>At that point, have another tiered strategy for selling my BTC and ETH out to cash. 10% at $50k, 10% at $75k, etc.
>Reinvest the cash in VTSAX, maybe some gold and property
>If I ever hit $4M total crypto net worth, I am immediately selling 80-90% of my holdings out to cash

This way I'm simultaneously a) keeping robust sized stacks riding the upcoming LINK and BTC/ETH bulls, b) incrementally desrisking into safer asset classes, and c) potentially swing trading if we see any juicy LINK dips. Important about point c is that I'd only be swinging with portions of my stack that I'd be comfortable with never being in LINK again if it does happen to keep on mooning past when I sell. So it's win/win.

Even assuming BTC and ETH remain stable at today's prices, this would put me at about $2.7M cashed out when Chainlink hits $200, with a 30k stack still riding the waves. After taxes that's $2 million riding in index funds, which on a 4% draw affords me a comfy $80k/yr inflationproof annual salary.

Also did we ever get an updated one of pic related?

Been a great week

>>11737446